OFW remittances: A tool for dev't or a sign of underdevelopment?
The Arroyo administration will host the Second Global Forum on Migration and Development this October. Bulatlat interviewed Jose Enrique Africa, research head of IBON Foundation, regarding overseas Filipino workers’ remittances and Philippine development. Bulatlat: The BSP said that the Philippines is the 4th biggest remittance receiver in the world. How do the Filipino people benefit from this? Africa: The Philippines is the largest among the most migrant- and remittance-dependent countries in the world. That so many millions of Filipinos are forced to go abroad and that the country is so dependent on remittances actually underscore the great failure of the government to build a solid domestic economy. Of course, remittances are a tremendous help for OFWs and their families and remittances are a vital source of stable foreign exchange. But these should not be used to divert from the more important point of why the domestic economy remains so backward and why Filipinos are forced to go...